The deceased, identified as Deepak and Montu, were friends-turned-enemies. Both of them were proclaimed ruffians at the locality and were released from jail around a fortnight ago, said a police official.
The incident took place around 10.30 PM yesterday after Deepak and Monu had a scuffle on the road, said police.
It is suspected that the assailant was summoned by Deepak to shoot Monty. Deepak died while trying to restrain Montu, to ensure that the shooter doesn't miss the target, police said.
Locals called up the police, and both of them were rushed to Deen Dayal Upadhyay Hospital, where Montu was declared brought dead and Deepak was admitted in a critical condition. Deepak succumbed to his injury in the wee hours today, said police.
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A case of murder has been registered at the Tilak Nagar police station in connection with the incident, said police.
The assailant is suspected to be one Sai, a resident of west Delhi's Rajouri Garden area, who was the last person on Deepak's caller list. Police teams are questioning their associates and searching the potential whereabouts of Sai.
The cause of yesterday's scuffle has so far emerged as dominance in the locality, police added.